The owners of Mobile Pulley & Machine Works will close the company in June if a buyer is not found by then.
The weekend of March 9 and 10 the three labor unions having contracts with Mobile Pulley rejected an agreement that would have allowed company President Albert “Bubba” Savage and two other executives to purchase the company.
The three unions involved are the International Association of Machinists the Foundry Workers and the Teamsters.
The owners Offshore Tool and Energy Corporation issued formal termination notices to all employees the first week of March.
“Mobile Pulley is still a going concern” Savage said on March 11 after announcing that the unions had rejected the offer. The foundry has ongoing orders and will continue to work those orders he said.
“The company is still for sale but Offshore Tool and Energy will proceed with its plans to shut the company down” he said. There is still hope that a buyer will step forward said Savage.
The 110-year-old Mobile Alabama foundry makes cast iron parts primarily for the dredging industry including ball joints and pumps. They also do specialty repair and other custom jobs for dredging customers.